Diversified Ethanol Buys 14 Acres in the Corn.

CHICAGO -- Diversified Ethanol, a Division of James Monroe Capital Corporation (Pink Sheets:JMCP), signed a purchase agreement on Friday afternoon to buy a 14 acre piece of land near Eagle Grove, Iowa for the location of plant number two.

The property features grain storage bins, steel tanks, hoppers, augers, a steel building to house equipment, a shop, storage buildings, and its own well. The property also has an outer lot, which is across the street from a golf course, which could be sold off.

The company has already signed contracts and put earnest money down to buy the property on contract. Diversified Ethanol already has partial possession of the property, and is marking-out the property plan for site layout. The purchase agreement closes January 3, 2007. Diversified Ethanol workers may begin moving equipment to the facility before then, as needed, and will be moving one of the small bulk bins to facility number one.

Diversified Ethanol's CEO Taylor Moffitt commented, "This site has plenty of room to house numerous plant modules, and buildings where we could manufacture thousands of distillation columns for worldwide demand. This will make a nice addition to our portfolio, and demonstrates to all that James Monroe Capital is to be taken seriously. We should have timeframe estimates later this week."

This press release does not constitute an offer of any securities for sale. This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ, including, without limitation, the company's limited operating history and history of losses, the inability to successfully obtain further funding, the inability to raise capital on terms acceptable to the company, the inability to compete effectively in the marketplace, the inability to complete the proposed acquisition and such other risks that could cause the actual results to differ materially from those contained in the company's projections or forward-looking statements. All forward-looking statements in this press release are based on information available to the company as of the date hereof, and the company undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.